Ottawa, Feb. 02, 2022 (GLOBE NEWSWIRE) -- The global endoscopy equipment market size was valued at US$ 28.87 billion in 2021. Endoscopy enables procedures on more vulnerable patients, such as the elderly, as well as the treatment or more difficult diseases like cancer. Reduced post-operative pain and the likelihood of complications are further advantages of endoscopy, as are faster discovery, lighter anesthetic, and a shorter hospital stay.
One of the primary factors driving the endoscopy equipment market is a shift in the trend of healthcare providers and patients switching from traditional open surgeries to minimally invasive procedures. Other factors driving the endoscopy equipment market include an ageing population, rising prevalence of chronic diseases, and the technological advancements in the area of endoscopy equipment.
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Regional Snapshot
North America is the largest segment for endoscopy equipment market in terms of region.This is due to the region’s highly established healthcare infrastructure, sophisticated technology uptake, high patient awareness levels, and expanding elderly population.
Asia-Pacific region is the fastest growing region in the endoscopy equipment market. Due to rising population and public investment in healthcare facilities, the Asia-Pacific region is expected to develop the quickest rate during the projected period.
Report Coverage
| Report Highlights | Details | |
| Market Size by 2030 | USD 54.9 Billion | |
| Growth Rate from 2021 to 2030 | 7.4% | |
| Fastest Growing Region | Asia Pacific | |
| Largest Revenue Holder | North America | |
| Companies Covered | Olympus Corporation, Johnson & Johnson, KARL STORZ SE & Co. KG, Stryker Corporation, Boston Scientific Corporation, Hoya Corporation, Nipro Corporation, Fujifilm Holdings Corporation, Richard Wolf GmbH, Cook Medical | |
Report Highlights
- Based on the product, the endoscopy visualization systems segment dominated the global endoscopy equipment market in 2020 with highest market share. The segment is predicted to develop due to the rising prevalence of ailments such as gastrointestinal disorders, urological disorders, cancer, and respiratory issues.
- Based on the application, the gastrointestinal endoscopy segment dominated the global endoscopy equipment market in 2020 with highest market share, owing to the increased prevalence of gastrointestinal illnesses and the growing geriatric population.
- Based on the end use, the hospitals segment dominated the global endoscopy equipment market in 2020 with highest market share. This is attributed to the favorable reimbursement policies and widespread acceptance and use of endoscopy equipment in hospital systems.
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Market Dynamics
Drivers
Rise in need for endoscopy procedures
Endoscopy procedures are minimally invasive surgeries that use small tubes, tiny cameras, and surgical instruments to perform surgery through one or more small incisions. Endoscopy procedures have several advantages, including less pain, a shorter or no-hospital stay, and fewer complications related to pre- and post-surgery care. As a result, these procedures are less costly, more effective, and less dangerous than traditional open surgeries. Furthermore, these procedures are covered by health insurance providers in advanced economies. These elements all contribute to patients' and physicians' strong preference for endoscopy procedures. Endoscopy is being used to diagnose and treat a wide range of serious diseases, including cancer, orthopedic disorders, neurological disorders, and gastroesophageal reflux disease.As a result, the rising prevalence of chronic diseases such as cancerand cardiovascular diseases is expected to increase the demand for endoscopy procedures. Thus, the rise in need for endoscopy is propelling the growth of the endoscopy equipment market during the forecast period.
Restraints
Stringent government regulations
Endoscopy-related diseases and complications may have an effect on business growth. Policy changes will almost certainly raise the costs of developing new products and providing consumer services. The potential loss of sales as a result of the product's delayed release, as well as the increased expenses incurred as a result of the stringent approval procedures, impact negatively on investments in new product development, restricting the growth of the endoscopy equipment market during the forecast period.
Opportunities
Increased prevalence of chronic diseases
The rising prevalence of chronic diseases, the advancement of endoscopy technologies, and increased support and coverage for endoscopic screening and care all contribute to the global demand for endoscopy equipment. Furthermore, the world's growing geriatric population has a significant impact on endoscopy equipment demand. Because of their lower immunity, older people are more susceptible to health issues such as ophthalmic disorders, gastrointestinal problems, orthopedic diseases, cancer, and others, complicating medical and treatment options. The rise in popularity of minimally invasive and global endoscopic procedures is creating lucrative opportunities for the growth of the endoscopy equipment market during the forecast period.
Challenges
Scarcity of trained healthcare professionals
Physicians and surgeons specializing in endoscopy are in short supply all over the world. The shortage of endoscopy-trained professionals is expected to affect developing countries as well. Endoscopy procedures must be performed effectively by trained professionals in order to prevent the spread of infections in endoscopy facilities.The worldwide scarcity of skilled physicians, doctors, and nurses is expected to reduce the number of endoscopy procedures performed each year.As a result, the scarcity of trained healthcare professionals is huge challenge for the growth of the endoscopy equipment market during the forecast period.
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Segments Covered in the Report
By Product
- Endoscopes
- Rigid Endoscopy Equipment
- Flexible Endoscopy Equipment
- Capsule Endoscopy Equipment
- Disposable Endoscopy Equipment
- Robot Assisted Endoscopy Equipment
- Endoscopy Visualization Systems
- Endoscopy Visualization Component
- Operative Equipment
By Application
- Gastrointestinal Endoscopy
- Laparoscopy
- Obstetrics Endoscopy
- Arthroscopy
- Urology Endoscopy
- Bronchoscopy
- Mediastinoscopy
- Otoscopy
- Laryngoscopy
- Others
By End Use
- Hospitals
- Ambulatory Surgery Centers
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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